Japanese telecom gaint Softbank recorded a loss of $350 million for last nine months of 2016 in the fair value of the Company’s investments in India. The loss comes on top of a $555 million writedown on the value of Softbank’s India portfolio in the six-month period ending September 2016. “With reference to the current markdown, portfolio…
Smartphone major Samsung Electronics Monday said that it has invested Rs 517 crore towards the expansion of its mobile phone plant in Noida, Uttar Pradesh under the UP Mega Policy.
The expanded facility was inaugurated by Akhilesh Yadav, Chief Minister of Uttar Pradesh in Lucknow today.
“Uttar Pradesh is one of the most important states for Samsung and the expansion of the Noida Mobile unit will further strengthen our presence in the country and enhance our manufacturing operations,” Hyun Chil Hong, President and CEO, Samsung India Electronics, said in as statement.
“The CM’s trendsetter UP Mega Policy has given Samsung India Electronics the opportunity to have the state of Uttar Pradesh as a partner in its growth in India,” he added. Original post at ET Telecom